Seminar
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Equities are for idiots, but EIA’s are the best. We get it Bio. What you don’t get is without the historical returns of the equity market your product wouldn’t exist. I will wait your lame threats via PM.
I think it’s simply hilarious that everybody gets up in arms about BF when he’s said time and time again he only takes on clients who don’t want to take on investment risk with some (or all) of their money.
And we have said time and again that we only take on clients who are willing to take investment risk with some of their money. That doesn't stop him from attacking everyone.
Well, if you can't take the heat, I'd stay out of the conversation all together.
You're at a bank, right? I was under the impression most bank reps could sell EIAs. If you can sell them, why not show them as an alternative to your CD-buying prospects?First off, who is up in arms ? We know the story. Anyone who sells anything that can lose money is a crook and his product is the best answer. Great.
Yes I am at a bank. No, I can't sell EIA's.I re-read the thread. Nowhere did he say all stockbrokers are crooks and nowhere did he say EIAs were the best. Am I missing something?
I'm gonna bow out of the conversation now. I don't have a dog in this fight.It isn't just this thread. It is his theme using different threads and many different screen names. Above you refer to what he has said time and time again, yet you haven't noticed this theme? Give me a break.I think it’s simply hilarious that everybody gets up in arms about BF when he’s said time and time again he only takes on clients who don’t want to take on investment risk with some (or all) of their money.
Plenty of banks have failed. Who the hell said they haven’t ? If you are referring to the bank that hired me as having failed in its hiring process you are probably right.
Most banks fail because they gave subprime mortgages to EIA salesmen who are out of work because clients didn't know what they were buying.BF’s one size fits all approach is largely responsible for the bad name and scrutiny the EIA industry has received. If EIAs had been used suitably and in a balanced manner in every case then the SEC would never have come into the EIA territory. I defend agents like BF all the time because my job requires it, but I shudder at the attitudes, like BF’s, that I see throughout the industry. This isn’t limited to EIAs or insurance. Unfortunately, it’s human nature, and I see it on both sides of the isle.
Doesn't an isle have four sides?BF’s one size fits all approach is largely responsible for the bad name and scrutiny the EIA industry has received. If EIAs had been used suitably and in a balanced manner in every case then the SEC would never have come into the EIA territory. I defend agents like BF all the time because my job requires it, but I shudder at the attitudes, like BF’s, that I see throughout the industry. This isn’t limited to EIAs or insurance. Unfortunately, it’s human nature, and I see it on both sides of the isle.
[quote=BioFreeze] [quote=AGEMAN][quote=BioFreeze] [quote=AGEMAN]I just simply said to him please don’t call yourself an FA or planner if all he does are EIA’s. He is the one who started throwing names around. Check the thread.
1. He is trying to help people sell EIA's. That is fine--no problem with that. I have just seen too many insurance agents going around calling themselves advisors and planners who are just agents. 2. I never implied anything about all EIA's. I know there are some good ones that have 5 year surrender charges, etc. I just haven't seen many of those sold. Wonder which ones he is selling. If you spend a lot of money on 5000 mailers and dinner at a nice restaurant do you sell the one that pays 2-3% and has a 5 year surrender charge?? I hope so, but haven't seen it. I have seen to many 75 year olds stuffed in the 15 year product!! 3. Glad he invited someone to call him. Nice. 4. Glad to hear about that one. Perhaps he should consider partnering with an advisor who would refer to him and vice versa since he focuses on EIA's only. 5. I never implied anything. I just said don't call yourself something you are not in order to gain the trust of the public. Check the post...I didn't start the mudslinging, but I did sling it back..... I have no problem with independent insurance agents doing biz....I used to be one. The only problem I have is so many of them put people in products that aren't appropriate and marketing themselves as something they are not. Good luck to you all.....Activity creates opportunity!!![/quote]How is it that some little piker, earning 5 figures, sitting in a wirehouse branch, has "seen" any index annuity sales? You are a liar and a bitch.
[/quote] I have seen plenty of prospects and new clients who were trapped in an EIA with a 10-20 year surrender that they were crammed into. They had no idea what they bought or how much it cost to surrender the product or how long the penalty lasted. By the way you said this was your first seminar, so you probably don't even make 5 figures yet! By the way I make 6 figures. I wonder how long the CDSC period is on that 100k sale you are getting from the seminar?? Are you doing what is best for your client or for your pocket?? I hope what your fan club said earlier is true and you really do what is best for the client. [/quote]
Did your clients have any idea that they were going to lose 30-50% of their money and that it could take them a decade to get it back? That's what I'm seeing from people who have done business with wirehouse brokers.
The $100,000 that I just did has a 10 year surrender period. The client chose it over a 5 year with a return of premium option and a 7 year product.
Don't worry about my income. While you were posting your comeback, I was out buying a gold Rolex.
[/quote] This is a pretty funny thread, "b***h". But I have to point out the premise of your lie. Having run diversified stock and bond portfolios for over a decade, your claim and premise that clients lost 40% of their money and it will take another decade to get it back, and your solution, are verified pathetic. I admire your simple mind and process, though. A real gold Rolex will buy buy a lot of guns (not) in barter when the sky finally falls.
[quote=BioFreeze]
[quote=ManOnTheCouch]BF’s one size fits all approach is largely responsible for the bad name and scrutiny the EIA industry has received. If EIAs had been used suitably and in a balanced manner in every case then the SEC would never have come into the EIA territory. I defend agents like BF all the time because my job requires it, but I shudder at the attitudes, like BF’s, that I see throughout the industry. This isn’t limited to EIAs or insurance. Unfortunately, it’s human nature, and I see it on both sides of the isle. [/quote]Why are you so convinced that people need to own risky investments? [/quote]
Everyone can handle risk when they are making money. I’ve got no problem going 50% bonds, 50% equities in almost every portfolio. DD
DD, that's pretty big of you. You've got no problem going 50/50 because it isn't your money. As for the SEC getting involved in EIA territory, it has nothing to do with suitability. Do you really think that clients are the motivating factor? It's about greed.[quote=BioFreeze]
[quote=ManOnTheCouch]BF’s one size fits all approach is largely responsible for the bad name and scrutiny the EIA industry has received. If EIAs had been used suitably and in a balanced manner in every case then the SEC would never have come into the EIA territory. I defend agents like BF all the time because my job requires it, but I shudder at the attitudes, like BF’s, that I see throughout the industry. This isn’t limited to EIAs or insurance. Unfortunately, it’s human nature, and I see it on both sides of the isle. [/quote]Why are you so convinced that people need to own risky investments? [/quote]
Everyone can handle risk when they are making money. I’ve got no problem going 50% bonds, 50% equities in almost every portfolio. DD
[quote=BioFreeze]
[quote=Milyunair][quote=BioFreeze] [quote=AGEMAN][quote=BioFreeze] [quote=AGEMAN]I just simply said to him please don’t call yourself an FA or planner if all he does are EIA’s. He is the one who started throwing names around. Check the thread.
1. He is trying to help people sell EIA’s. That is fine–no problem with that. I have just seen too many insurance agents going around calling themselves advisors and planners who are just agents.
2. I never implied anything about all EIA’s. I know there are some good ones that have 5 year surrender charges, etc. I just haven’t seen many of those sold. Wonder which ones he is selling. If you spend a lot of money on 5000 mailers and dinner at a nice restaurant do you sell the one that pays 2-3% and has a 5 year surrender charge?? I hope so, but haven’t seen it. I have seen to many 75 year olds stuffed in the 15 year product!!
3. Glad he invited someone to call him. Nice.
4. Glad to hear about that one. Perhaps he should consider partnering with an advisor who would refer to him and vice versa since he focuses on EIA’s only.
5. I never implied anything. I just said don’t call yourself something you are not in order to gain the trust of the public.
Check the post…I didn’t start the mudslinging, but I did sling it back…
I have no problem with independent insurance agents doing biz…I used to be one. The only problem I have is so many of them put people in products that aren’t appropriate and marketing themselves as something they are not.
Good luck to you all…Activity creates opportunity!!![/quote]How is it that some little piker, earning 5 figures, sitting in a wirehouse branch, has “seen” any index annuity sales? You are a liar and a bitch. [/quote]
I have seen plenty of prospects and new clients who were trapped in an EIA with a 10-20 year surrender that they were crammed into. They had no idea what they bought or how much it cost to surrender the product or how long the penalty lasted.
By the way you said this was your first seminar, so you probably don’t even make 5 figures yet! By the way I make 6 figures. I wonder how long the CDSC period is on that 100k sale you are getting from the seminar?? Are you doing what is best for your client or for your pocket?? I hope what your fan club said earlier is true and you really do what is best for the client. [/quote] Did your clients have any idea that they were going to lose 30-50% of their money and that it could take them a decade to get it back? That’s what I’m seeing from people who have done business with wirehouse brokers. The $100,000 that I just did has a 10 year surrender period. The client chose it over a 5 year with a return of premium option and a 7 year product. Don’t worry about my income. While you were posting your comeback, I was out buying a gold Rolex. [/quote]
This is a pretty funny thread, “b***h”. But I have to point out the premise of your lie. Having run diversified stock and bond portfolios for over a decade, your claim and premise that clients lost 40% of their money and it will take another decade to get it back, and your solution, are verified pathetic. I admire your simple mind and process, though. A real gold Rolex will buy buy a lot of guns (not) in barter when the sky finally falls. [/quote][/quote]
That’s definitely getting my vote for one of the best posts ever…
That's because your entire social life centers around an internet forum.
[quote=DD] [quote=iceco1d] That’s definitely getting my vote for one of the best posts ever…[/quote] That’s because your entire social life centers around an internet forum.
So says the guy with someone else’s girlfriend as his avatar…
That’s a tired accusation anyway (I’m not going to do the math for you, someone else already did, regarding how much time it actually takes to post here); plus my primary method of prospecting lends itself to being here. I’d explain how, but for some reason I’m not inclined to elaborate.[/quote]
Please walk me through the math including the time it takes you to read your endless mind numbing posts (and others), chuckle at your false wit, and wipe the drool off your key board. OHHHH PLEASE EXPLAIN YOUR PROSPECTING METHOD. We all have so much to learn from some tool under 30.
DD
Says the guy who's biggest contribution to date is a picture of "Plastic Surgery Gone Bad".
[quote=Primo]
Says the guy who’s biggest contribution to date is a picture of “Plastic Surgery Gone Bad”.
[/quote]Says a guy with 62 posts in less than a month. Your practice must be tiny.
[quote=DD] [quote=Primo]
Says the guy who's biggest contribution to date is a picture of "Plastic Surgery Gone Bad".
[/quote]Says a guy with 62 posts in less than a month. Your practice must be tiny.
[/quote] It is easier to toss an insult than accept a challenge, I get it.